Gold

Show Info 3-30-2015 – News, Guest Jim Willie

March 30

News and Guests

2015

Second Hour Guest

In the second hour JD is joined by Jim Willie for a discussion about all things Geo-political and economic including the current situation in Greece and the Ukraine, the pending collapse of the petrol-dollar, the rise of the AIIB and changes of power in the international trading platforms.

Jim Willie comes from US industry with three main fields of statistics covered. He earned a PhD in Statistics at Carnegie Mellon Univ in 1980. The three fields are Quality Control in manufacturing, Marketing Research in computer technology, and Sales Forecasting in retail.

Since 2004, the Golden Jackass has been running the Hat Trick Letter, a newsletter that focuses on gold, currencies, central banks, and the economies. His numerous correct forecasts on important developments toward the global breakdown have gained international attention, if not notoriety.Full Bio:http://redpillreports.com/guests/jim-willie/

Jim Willie

Jim Willie comes from US industry with three main fields of statistics covered. He earned a PhD in Statistics at Carnegie Mellon Univ in 1980. The three fields are Quality Control in manufacturing, Marketing Research in computer technology, and Sales Forecasting in retail.

Since 2004, the Golden Jackass has been running the Hat Trick Letter, a newsletter that focuses on gold, currencies, central banks, and the economies. His numerous correct forecasts on important developments toward the global breakdown have gained international attention, if not notoriety.

The current major forecasts include the rejection of the U.S. Dollar as global reserve, the installation of the Eurasian Trade Zone, the flipping east by Germany, Turkey, Saudi, and Japan, and the return of the Gold Standard. The return will come through the trade window, not the currency window. The acceleration of systemic breakdown events has come in earnest during the early months of 2015, exactly as forecast. While the degraded and compromised economist profession has presided over ruin, the Jackass carries a near 90% correct forecast rate, since systemic failure, criminal activity, and sustained pressures to maintain the broken system are integrated in the work. The Jackass prefers to say, “My work is unencumbered by the limitations of economics credentials.”

New York Times on Benefits of Gold in Currency Wars

The New York Times published an important article this week in which the benefits of gold to nation states during a period of currency wars was highlighted. The article was noteworthy as the New York Times has rarely covered gold in a positive manner.

The article, entitled ‘The Golden Age’ is about the growing use of gold in geopolitical affairs. They drew attention to the gold repatriation movements in Europe and to the accumulation of the precious metals in vast quantities by the central banks of the East – particularly Russia and China.

The Times attempts to get into the mind-set of the central banks who are buying gold or attempting to repatriate their current stocks of the metal. It presents two major rationales for the current trend.

“Some that’ve interpreted the metal’s mini-comeback as an indication that financial Armageddon, in the guise of runaway inflation, is approaching. Others have read the recent move as a symbolic way for central banks and governments to make a show of strength in nervously uncertain economic times.”

The first point is one which we have covered here consistently. The article quotes Jim Rickards who interprets the policies of China and Russia as “they understand who fragile things are and they are getting ready for the demise of the dollar.”

The Times refers to the unprecedented waves of money printing by central banks in recent years “which in theory can devalue sovereign currencies.” Despite the fact that massive money printing programs have always led to high inflation the Times seems to believe that this time it may be different – famous last words in economic terms.

The other side of the argument as put forward by the Times does not really hold water. It suggests that the accumulation of gold is a largely symbolic act . It is being used to induce a “culture of stability.”

It quotes a professor from the University of Southern California, “I doubt that the Russians or the Chinese actually believe that gold is such a great investment in terms of pure returns,” he says -“But if they are trying to suggest that they are unhappy with the dollar or that they want to become a global player, then gold is very powerful.”

He does not seem to realize that these two countries already are global players whose influence is growing as that of the U.S. declines. They may not view gold as an investment in the classic sense how they clearly view gold as an important monetary asset as seen in their declarations and in the enormous volumes they have been accumulating.

This Is What Gold Does In a Currency Crisis

To say that gold is in a bear market is to misunderstand both gold and markets. Gold isn’t an investment that goes up and down. It is money in the most basic store-of-value sense. Most of the time it just sits there, and when its price changes in local currency terms that says more about the local currency than about gold.

But when currencies collapse, gold shines.

Consider the above from the point of view of a typical Russian. The ruble is tanking (no need to understand why — all fiat currencies go this way eventually and the proximate cause is almost irrelevant). Russians who trusted their government and kept their savings in, say, a bank account, are losing their shirts. But those who own boring, doesn’t-pay-interest, in-a-bear-market gold have seen their capital appreciate in local currency terms by about 60 percent in just the past month. They’re not “making money,” but they are preserving wealth.

Russian Trading System

Moscow Exchange (Russian: ОАО Московская Биржа) is the largest stock exchange in Russia, is also the No.9 largest exchange globally by derivatives trading, located in Moscow. In December 2011, it is established by the merger of the two largest stock exchanges, the Moscow Interbank Currency Exchange (MICEX) and the Russian Trading System (RTS). After the merger of Exchange, it became an open joint stock company (OJSC), named Moscow Exchange.

The Moscow Exchange Group operates the country’s largest clearing service provider, Russia’s Central Securities Depository (CSD) and National Clearing Centre. The Moscow Exchange offers professional institutions and the state-of-the-art infrastructure for investors to trade bonds, currencies, equities, mutual funds, commodities and derivatives on all asset classes. The gold products include Gold Futures and Gold Options.

Gold Price Observations from Springtime

Dr. Jim Willie: Quantum Leap in the Gold Price, Ukraine-Russia Crisis and More

Dr. Jim Willie, Editor of The Hat Trick Letter, says big news on the progress of convertibility of the Chinese yuan is being ignored by the mainstream media. Dr. Willie says, “Fully convertible capital account for the Shanghai Free Trade Zone is an enormous story, and it is not in the U.S. news. Why, because it signals that the yuan is about to become an extreme competitor to the dollar in trade settlement and, therefore, rival it as a global reserve currency. By that, I mean used in banks as a reserve item. . . . They are making steps; they are more like big strides toward making the yuan a fully convertible internationalized currency. You’ve got lots of countries with yuan swap facilities. You have Brazil, Australia, New Zealand, Japan, Germany and UK. These are big countries. These are Western countries, and they all have yuan swap facilities, which mean they are not going to conduct trade settlement in dollars. So, it’s already in our Western camp. With all these developments toward a gold backed currency, you are going to see quantum leaps in the gold price. You are going to see the big move in gold when China is no longer going to be able to get London and New York gold.”

Posted byRed Pill ReportsinEconomic News

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